- XRP nears a breakout as rising volume and support zones bolster bull control
- MACD and RSI suggest consolidation, but momentum hints at breakout potential
- Shorts face heavier liquidations, revealing bullish pressure in perpetual markets
Ripple’s native token XRP is drawing attention as it edges toward a key breakout point. Market analysts are calling it a “Battle of the Battles,” referring to the clash between bullish potential and historical resistance. As of June 11, XRP trades at $2.28 with a daily gain of 2.45%, suggesting growing investor interest.
According to EGRAG CRYPTO, an analyst analysis, the technical setup shows a high probability nearly 70-80% of an upward breakout. Meanwhile, downside risk remains between 20-30%. With strong market signals and anticipation of fundamental news, XRP’s current positioning could be decisive for its near-term direction.
Technical Trends Favor Bulls But Resistance Still Looms
XRP has maintained a gradual uptrend throughout the day. The price climbed from a low of $2.2321 to a peak near $2.33 before easing slightly. Importantly, the retracement held above key support, showing that buyers remain firmly in control.
The immediate support lies between $2.23 and $2.24, where the price rebounded sharply. A secondary support level sits at $2.27, which acted as the base during the recent minor pullback.
On the upside, the $2.33 level marks near-term resistance. A clean breakout above this point could trigger swift gains. Further resistance may appear between $2.35 and $2.37, based on prior price behavior and projected consolidation zones. Significantly, volume is on the rise, with 24-hour trading activity reaching $2.95 billion up by 3.85% adding weight to bullish sentiment.
Indicators Show Strength with Room for Momentum Growth
While technical indicators lean bullish, they also suggest some caution. The MACD shows a mildly positive histogram, and the MACD line remains just above the signal line. However, momentum is still weak and needs a strong push to confirm a breakout.
The Relative Strength Index (RSI) currently sits at 52.33, placing XRP in the neutral zone. This implies consolidation is underway, possibly as the market awaits a catalyst.
Besides technicals, liquidation data highlights market activity under the surface. In the past 24 hours, XRP saw $4.1 million in total liquidations all from perpetual contracts.
Interestingly, short positions were hit harder, with $2.4 million liquidated compared to $1.8 million in long positions. Exchanges like Binance and Bybit recorded the highest activity, indicating concentrated speculation.
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